Crypto execs head to Capitol as Congress mulls regulations

By STAN CHOE
AP Business Writer

NEW YORK (AP) — Cryptocurrency executives went to Capitol Hill Wednesday to say their fast-growing industry understands more regulation is likely coming, but they don’t want it to squelch the next wave of the internet or send it offshore to other countries. Leaders from major crypto exchanges, mining and other related businesses testified for four-and-a-half hours before the financial services committee of the House of Representatives, which wanted to learn more about how the industry works as it wrangles with how to regulate it. Much of the discussion centered on protections for investors in a burgeoning ecosystem that critics have called the “Wild West.”